ICBC

Chinese lending to and investment in central and eastern Europe is on the up. China has extended its reach to rival the influence of its western counterparts with its best weapon: money. But many bankers speaking to GlobalCapital this week think the trend is problematic.

Zhenro Properties Group returned to the dollar bond market for the seventh time this year on Tuesday, tapping one of its March transactions for an additional $110m. But the market presented a whole different set of problems for the borrower this time round.

German carmaker Daimler wrapped up a Rmb5bn ($710m) two tranche private placement Panda bond on Wednesday. Returning to the market after eight months, the Panda bond regular drove through turbulence.

China Lesso Group Holding has launched a $900m four year borrowing into general syndication.

China Petrochemical Corp (Sinopec) navigated a weak market following this week’s rate cut announcement to raise $2bn from a three-tranche deal. While it took a smaller amount than usual, its transaction was well-timed, say bankers.

BNP Paribas hires UK advisory head — Créd Ag’s credit unit chief moves to markets role — AIIB hires ICBC loan syndicator.

Hungarian gas and oil company MOL has extended part of an existing €555m revolving credit facility by one year, in what is one of the few sparks of activity in the country's syndicated loan market so far this year.

UK bank debt has been having a hard time this week, with spreads gapping out by about 15bp on fears that the country could crash out of the European Union without a deal.

China Lesso Group Holdings has mandated nine banks for a $900m loan.

Bank of Jinzhou got a much-needed liquidity boost after China Great Wall Asset Management, China Cinda Asset Management and ICBC Financial Asset Investment acquired more than 17.3% of its shares.

Industrial & Commercial Bank of China’s London-based head of global loan syndication will be moving to the Asian Infrastructure Investment Bank in Beijing.

Chinese provincial government-owned Shandong Hi-Speed Group Co has pushed out its maturity profile with a $1.4bn dual-tranche transaction. It priced the senior perpetual tranche at the same level as some of its bigger state-owned peers, thanks to a six times covered order book.